Daily Market Brief

Nov 8, 2024

Daily Market Brief 241108

Peter-Headshot
Peter Chung
Min-Headshot
Min Jung
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  • $BTC rallied post-FOMC and reached an all-time high, just shy of $77,000. Currently, $BTC is trading at $75,868 and  $ETH stands at $2,894.

  • As anticipated, the Fed lowered interest rates by 25 basis points to a range of 4.5-4.75%. Powell noted that high inflation has significantly eased, the labor market remains strong, and the overall economy is performing well, although most questions centered around Trump.

  • Key headlines include: Robinhood's Chief Legal Officer, Dan Gallagher, remains the leading candidate to succeed Gensler, according to Reuters; $RAY has been listed on Coinbase International futures; and Jito Labs reported $78.9 million in monthly fees for October.

  • Over the past 24 hours, the top three gainers were $CORGAI, $PEPE, and $JTO, while the top three losers were $DOG, $MOG, and $TURBO.

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Peter-Headshot
Peter ChungHead of Research
Min-Headshot
Min JungResearch Analyst